Making Your Money Work for You With Great Bank CD Rates

The Ins and Outs of Online Bank CDs From Ally Bank

September 2012

In retirement, certificates of deposit (CDs) can be a reliable way to help grow your money. But bank CD rates can vary greatly, so it's important to compare rates from several banks before you decide where to put your funds.

In general, the longer the CD term length, the higher the interest rate available. Keep in mind that some banks may require you to maintain a large minimum balance in order to receive their best rates. At Ally Bank, we make great rates available to everyone—with no minimum opening deposit requirements.

Because Ally Bank is an online bank, we don't have the overhead costs that come with physical branches and we're able to pass savings on to customers in the form of great rates. Bank CD rates from Ally Bank are frequently among the most competitive in the country.

A few other features of Ally Bank CDs:

  • A full line of CDs—choose from our High Yield CDs, No Penalty CDs and Raise Your Rate CDs to find an account tailored to fit your needs.
  • Daily Compounding Interest—at Ally Bank, interest is compounded daily to help your money grow faster.
  • Security—your deposits at Ally Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowed by law.
  • Customer Service—we take pride in offering an easy-to-use website and friendly, live customer service that's available 24/7.

Look beyond traditional bank CD rates and find stable, competitive options with Ally Bank. Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.

Ally Bank, Member FDIC

Related Articles